▲ This file photo, taken June 21, 2022, shows stacks of containers at a port in South Korea's southeastern city of Busan. (Yonhap)

industrial output-May

S. Korea's industrial output, investment rebound in May

By Kim Soo-yeon

SEOUL, June 30 (Yonhap) -- South Korea's industrial output and facility investment rebounded in May from the previous month in the latest sign that Asia's fourth-largest economy maintains mild recovery momentum amid heightened external uncertainty, data showed Thursday.

Industrial production rose 0.8 percent in May from the previous month, compared with a 0.9 percent on-month fall in April, according to the data from Statistics Korea.

Compared with a year earlier, industrial output grew 7.1 percent.

Facility investment increased 13 percent on-month in May, a turnaround from a 7.6 percent decline in April.

But retail sales, a gauge of private spending, declined for the third straight month in May.

Retail sales shed 0.1 percent last month, after a 0.2 percent on-month fall in April.

The South Korean economy faces the risk of stagflation, a mix of slowing growth and high inflation, amid heightened economic uncertainty from the protracted war between Russia and Ukraine, and the Federal Reserve's aggressive rate hikes.

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